Consider Schedule #1 in the Aggregate Demand and Aggregate Supply

question 150

Multiple Choice

Consider schedule #1 in the aggregate demand and aggregate supply table given below.The equilibrium output and price level for the economy described on this schedule are:
?
Table 10.1
?
?
$$\begin{array} { c c c c c } \begin{array} { c } \text { Quantity of } \\\text { Aggregate Output } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Price } \\\text { Level }\end{array} &\#1& \begin{array} { c } \text { Quantity of } \\\text { Aggregate Output Supplied } \\\# 2\end{array} & \# 3 \\\hline \$ 7.0 & 110 & \$ 5.0 & \$ 6.0 & \$ 4.0 \\6.5 & 120 & 5.5 & 6.5 & 4.5 \\6.0 & 130 & 6.0 & 7.0 & 5.0 \\5.5 & 140 & 6.5 & 7.5 & 5.5 \\5.0 & 150 & 7.0 & 8.0 & 6.0\end{array}$$
?

• A)$7.0 and 110,respectively.
• B)$6.5 and 120,respectively.
• C)$6.0 and 130,respectively.
• D)$5.5 and 140,respectively.
• E)$5.0 and 150,respectively.

---

Definitions:

Springfield Science Museum

A museum dedicated to the promotion of scientific understanding, likely located in Springfield, though there are multiple Springfields so the exact location may vary.

Independent

Not influenced by or contingent upon something else; autonomous or having the freedom to act separately.

Standard Deviations

A calculation that shows how broadly or tightly a set of values is distributed.

Independent

Not influenced or controlled by others in matters of opinion, conduct, or other actions; free from external control.